By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Part IV Two More Things Trustees Should Know About the Small Business Reorganization Act of 2019 Introduction Four bankruptcy-related bills were enacted during the 116th Congress and signed into law on August 23, 2019.1 The legislation affected both business and consumer cases. One bill, the Small Business Reorganization Act of...
From the Editor’s Desk – Property of Estate and Exemptions
Print This Article
Link to Post:
By The Honorable William Houston Brown (Retired)
Profit-sharing plan was not exempt. Prior to filing Chapter 13, which was converted to Chapter 11 and then 7, the IRS had audited the debtor’s tax return, including requesting documentation about a profit-sharing plan. The fact that IRS had closed its audit did not create a presumption that the profit-sharing plan was exempt from the bankruptcy estate, and the bankruptcy court found that the plan was not exempt under § 522(b)(3)(C), due to repeated violations of applicable tax laws, including eight transactions by . . .
It looks like you are not signed in or registered! This content is only available to members.
Or Sign In Below:
Related Articles
Rules, Means-Test Amounts and Miscellaneous Fees: Changes Wrap Up 2020
Two More Things Trustees Should Know About the Small Business Reorganization Act of 2019
2022 Bankruptcy Procedure Year in Review: Revised Statute and Rules and Selected Cases Part 9 More from the Supreme Court: MOAC Mall Holdings LLC v. Transform Holdco LLC
Meet New Trustee Brian Tucci
From the Editor – Debtor’s Attorney
Impact of the Repeal of Cares Act Chapter 13 Plan Modifications: Is It a Death Knell for Cases Beyond 60 Months?
Can a Secured Claim Still “Ride-Through” Bankruptcy Despite BAPCPA? – Part 1 In re Rhodes Says, “Let Me Count the Ways”
Critical Case Comment
Why Your Bankruptcy Client Doesn’t Understand You (And How to Fix the Problem)
Critical Case Comment – Stay Violation: Repossession No, Sale Yes